3.0.0 6531 2023-01-11T13:21:12Z 2023-01-11T13:21:12Z House H HR 2010-12-16 111 hsba00 Financial Services Committee House Standing Referred to 2010-12-16T15:02:45Z 2010-12-16 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-12-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-12-16 Introduced in House IntroReferral 1000 9 Library of Congress G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 N K000210 Rep. King, Peter T. [R-NY-3] PETER KING R NY T. 3 2010-12-16 True R000435 Rep. Ros-Lehtinen, Ileana [R-FL-18] ILEANA ROS-LEHTINEN R FL 18 2010-12-16 True Finance and Financial Sector Bankruptcy Consumer affairs Financial services and investments Securities Finance and Financial Sector 00 2010-12-16 Introduced in House 2011-04-06T19:02:19Z Equitable Treatment of Investors Act - Amends the Securities Investor Protection Act of 1970 to revise the definition of "net equity."

Declares also that, in determining net equity, the positions, options, and contracts of a customer held by the debtor, and any indebtedness of the customer to the debtor, shall be determined based on: (1) the information contained in the last statement received by the customer from the debtor before the filing date; and (2) any additional specific confirmations of the customer's positions, options, contracts, or indebtedness received after such last statement but before the filing date.

Prohibits reliance on the final statement of the debtor to customer, however, if the customer: (1) knew the debtor was involved in fraudulent activity with respect to any of its customers; or (2) as a registrant under the securities laws, or a person required to be so registered, knew, or should have known, that the debtor was involved in such a fraudulent activity and did not notify the Securities Investor Protection Corporation (SIPC), the Securities Exchange Commission (SEC), or law enforcement personnel that the debtor was so involved.

Prohibits a trustee in a liquidation proceeding from recovering any property transferred by the debtor to a customer before the filing date unless, at the time of such transfer, the customer meets the same critieria.

Transfers from SIPC to the SEC authority to nominate to a court persons for appointment as trustee for the liquidation of a debtor's business and as attorney for the trustee.

]]> Equitable Treatment of Investors Act Display Title Equitable Treatment of Investors Act Official Title as Introduced To amend the Securities Investor Protection Act of 1970 to determine a customer's net equity based on the customer's last statement, to prohibit certain recoveries, to change how trustees are appointed, and for other purposes. Introduced in House IH Short Titles as Introduced Equitable Treatment of Investors Act Introduced in House 2010-12-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr6531ih/xml/BILLS-111hr6531ih.xml 2010-12-16 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.